Guideline Value for Nedunchalai Street, Cholavaram Nagar

Nedunchalai Street, Cholavaram Nagar guideline value

The current guideline value of Nedunchalai Street, Cholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Nedunchalai Street, Cholavaram Nagar has changed

The guideline value for Nedunchalai Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,980 per sq.ft, reflecting a change of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Nedunchalai Street's 2024 figure below that median.

• Nedunchezian Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Neelakandan Street (P.N.)/ Ganapathy Nagar: Rs 1,870 per sq.ft (2024)
• Neelamegam Street /LIC Colony: Rs 2,530 per sq.ft (2024)
• Navamani Street/Central Bank Colony: Rs 1,760 per sq.ft (2024)
• Navalar Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchalai Street, Cholavaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nedunchalai Street, Cholavaram Nagar?

The Sub Registrar Office that covers Nedunchalai Street, Cholavaram Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Pammal

The guideline value is a crucial figure used during the registration of property transactions in Pammal. It serves as a benchmark for calculating the stamp duty and registration fees that buyers are required to pay when purchasing property.

When a property is sold, the guideline value helps ensure that the sale price is accurately reflected in the registration documents. This value is used to determine the applicable fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nedunchalai Street, Cholavaram Nagar?

The current guideline value of Nedunchalai Street, Cholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current figure of Rs 1,980 per sq.ft in 2024. The most recent change from 2023 to 2024 was an increase of 10%.

What is the land classification for Nedunchalai Street?

Nedunchalai Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 incurs a stamp duty of Rs 1,38,600 and a registration fee of Rs 39,600.